I play twice per week. Ceiling shots are not only valid, but advisable. A good ceiling shot will hit the ceiling first, front wall, then floor, and should be bouncing again near the back wall. If the second bounce is to far in front of the back wall, it's tee-off time for your opponent. It's a great recovery shot if you are in trouble, or just to move your opponent out of the centre of the court (where you want to be).
For equipment, you could try
Racquetworld, I've heard they're good. But get a decent graphite racquet, preferably 22" long, as is the new standard. I like the Wilson line - something like the Ultra Classic would be a good starting point.
For more info, try
alt.sport.racquetball (hope the link works). Though take the newsgroup with a grain of salt, they're mostly interested in slamming the USRA (governing body for racquetball in the US). From there, you should be able to get pointers on technique, local clubs, and tournaments. Doesn't help me, I'm in Canada.
It's a great sport! Only surpassed in my book by downhill skiing, which you should do as often as possible.
Regards,
Craig